Charlottesville Real Estate Market Report 2017 Fourth Quarter

Charlottesville Real Estate – CAAR 2017 Fourth Quarter Market Report

Our Charlottesville Area Association of Realtors has just released the latest real estate market report showing stats for sales in our area, 2017 4th Quarter.

This report comes out Quarterly and gives us a good idea of the current Real Estate Market in the greater Charlottesville Area.

The specifics are pulled from our local MLS and you have likely been advised by your agent of specific trends in your area.

Remember to discuss specific market conditions with your Charlottesville Realtor.

Charlottesville Area 2017 Fourth-Quarter Highlights:

•    Home sales increased 7.5% (863) compared to Q4 2016 (803), while year-end indicated a 4.0% gain.
•    Greater Charlottesville median sales price rose to $300,000 (12%) compared to Q4 2016 ($267,842), as year-end marked a 7.4% improvement.
•    The median days on the market for Q4 2017 remained steady at 71- days, unchanged from Q4 2016, while year-end showed a 8.5% decline (six-days fewer).
•    New listings grew 13.4% (822) compared to Q4 2016 (725), as year-end marked a 2.8% increase.
•    Pending sales improved 17.6% (761) compared to Q4 2016 (647), while year-end showed a 7.5% surge.
•    Inventory of homes for sale declined 15.9% (939) in Q4 2017, as year-end indicated a 15.7% decrease.

(SEE FULL DETAILS BELOW)

Charlottesville 2017 4th Quarter Market Report by Charles McDonald on Scribd

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